Apple lost $6 billion to chip shortage and manufacturing delays in Q4, Tim Cook says
Apple today posted strong earnings for its fourth fiscal 2021 quarter, reporting all-time highs for its services and Mac divisions. The company says it took in revenue of $83.4 billion, a year-over-year increase of 29 percent, and earnings per share of $1.24. That earnings number came in below Wall Street expectations of $84.85 billion.
CEO Tim Cook told CNBC that supply chain constraints had a clear impact on financial results this quarter. “We had a very strong performance despite larger than expected supply constraints, which we estimate to be around $6 billion,” Cook said, attributing the supply issues to “the industry-wide chip shortages that have been talked about a lot and COVID-related manufacturing disruptions in Southeast…